The Taiwan Stock Exchange Association awarded the first “Eastern Leader” on the 15th of this month, with Professor Hsu Shijun, chairman of the judging panel, emphasizing that Chairman Shi Zhenrong advocated the “Way of the King,” always demonstrating foresight and social influence. President of the Republic of China, Lai Ching-te, affirmed that Chairman Shi Zhenrong has laid a profound foundation for Taiwan’s technology industry.
President Lai Ching-te attended the inaugural “Eastern Leader” award ceremony on the 15th, congratulating Acer Group founder Shi Zhenrong for receiving this honor. The judging panel stated that Shi Zhenrong, with the “smiling curve” theory, leads industry upgrading and breaks the tradition of family businesses, practicing “passing wisdom, not just to children,” making him a model figure.
The panel of judges was chaired by Professor Hsu Shijun, Honorary Chairman of the Taiwan Association for Evaluation. He explained that Shi Zhenrong advocated the concept of the “Way of the King,” integrating Eastern wisdom into business operations. Before ESG (Environmental Protection, Social Responsibility, Corporate Governance) became mainstream globally, Shi Zhenrong had already implemented a business philosophy that balances profit for others and sustainability; from industrial upgrading, corporate governance, talent succession, to cultural arts, charity, technological innovation, and net-zero development, Shi Zhenrong consistently shows foresight and social influence.
Shi Zhenrong grew up in a difficult environment, studying hard to obtain a bachelor’s degree and a master’s degree in electronic engineering from National Chiao Tung University. In his address, Shi Zhenrong admitted that his English was not proficient, and after graduating with a master’s degree, he did not work for a foreign company. His first job was as a research engineer at “Unitron” in Zhubei, Hsinchu, where he had the opportunity to develop Taiwan’s first electronic calculator and a series of handheld calculators.
Shi Zhenrong mentioned that he embarked on entrepreneurship after the oil crisis in the 1970s, co-founding Acer with his wife, Shihua Yeh, and friends, leading the company in promoting microprocessors and gradually transitioning to personal computer manufacturing. He pointed out that when shaping the non-mainstream “human nature is inherently good” organizational culture, many warned that there would be losses. However, the reality proved that not only did he not suffer losses, but he also enabled many individuals to unleash their potential, demonstrating the importance of the “Way of the King” philosophy.
In his speech, President Lai Ching-te expressed his honor to be invited to the inaugural “Eastern Leader” award ceremony held by the Taiwan Stock Exchange Association, thanking the association for being an important platform for communication and cooperation in the business sector over the years. He emphasized that the association publishes the “Eastern Leader” magazine, providing members with timely information and assisting in sustainable development towards net-zero. The establishment of the “Eastern Leader” award is believed to shape exemplary enterprises in the future and lead the younger generation in the business sector to learn, ultimately driving the overall industry development.
“Chairman Shi Zhenrong is an enterprise leader I deeply admire, and today’s award is well-deserved,” said Lai Ching-te, adding that he had some points to share, expressing his admiration from the bottom of his heart.
Lai Ching-te noted that Shi Zhenrong, as the founder of Acer, along with co-founders, has made significant contributions to Taiwan’s industry, especially the technology sector, over the past 50 years. He mentioned that the influence of Chairman Shi Zhenrong, spreading the “Way of the King” culture, has transformed the corporate culture and spirit of operation in Taiwan significantly. Shi Zhenrong’s “smiling curve” theory proposed in 1992 has guided Taiwan’s industrial development towards innovation and brand growth, shifting the industry from OEM manufacturing to innovation and brand development.
President Lai Ching-te highlighted that the economic miracle of Taiwan in the past was established by countless small and medium-sized entrepreneurs, carrying “007 briefcases” to various parts of the world to secure orders and returning to Taiwan with the “factory on the living room” approach to create an economic miracle foundation. Amid fierce competition, profitability was limited; however, the “smiling curve” brought a new direction to the industry, allowing Taiwanese enterprises to achieve better development.
“The ‘Way of the King’ culture actively promoted by Chairman Shi Zhenrong is deeply influential, changing the corporate culture and business spirit in Taiwan,” stated Lai Ching-te. Shi Zhenrong believes that apart from creating value, sharing benefits and seeking win-win outcomes while pursuing sustainable operations have further altered the company’s culture.
Lai Ching-te went on to emphasize the significant contributions of listed companies in Taiwan’s economy, where entrepreneurship creates employment opportunities, stabilizes society, drives economic development, and provides the government with more tax revenue for infrastructure projects. As the President, he expressed gratitude to Chairman Shi Zhenrong on behalf of the people and extended sincere thanks to all partners of listed companies, acknowledging their dedication to economic development, enabling the country to progress continually and provide better care for its people.